What is a Sole Proprietorship?


Minyang Jiang

Sole proprietorships are the most common type of small business in the United States because they are the simplest structure for business owners looking to start and operate a business. If you own a sole proprietorship, the business belongs 100% to you, but you are also 100% liable for anything that happens to your business. […]


What Is Sole Proprietorship and How Does It Affect Your Taxes?


Minyang Jiang

A sole proprietorship is one of the most common business entities used by those who are working for themselves — and it comes with its own set of tax rules.


LLC or Incorporation: Which Is Right for Your Small Business?


Minyang Jiang

Tax structure, startup costs, and record-keeping all need to be considered when you’re deciding which business type to form.


When and How Should Your Business File for Bankruptcy?


Minyang Jiang

If your small business is failing, bankruptcy may be your best option — but it has to be handled the right way.


How to Apply For a Tax ID Number for Your New Business


Minyang Jiang

When you start a new business or take over an existing one, you’ll need to obtain a Federal Tax ID Number, also known as an EIN. Here’s what to be aware of.